Federal Bank, a private sector lender, announced on Monday that its third quarter net profit, which ended in December 2024, decreased by 5% to Rs 955 crore. In the same quarter last year, the bank made a net profit of Rs 1,007 crore.
However, according to a regulatory filing from Federal Bank, overall income rose to Rs 7,725 crore during the reporting quarter from Rs 5,593 crore during the same period last year.
In addition, interest income increased to Rs 6,809 crore during the reviewed quarter from Rs 5,730 crore during the same period last year. In the third quarter of the previous fiscal year, operating profit increased to Rs 1,559 crore from Rs 1,437 crore.
On the asset quality front, the bank's gross non-performing assets ratio improved to 1.95 per cent as against 2.29 per cent a year ago. Similarly, net NPAs, or bad loans, came down to 0.49 per cent from 0.64 per cent at the end of the third quarter last fiscal year.
However, the overall provisions, excluding tax, tripled to Rs 292 crore during the quarter from Rs 91 crore a year ago. Capital Adequacy Ratio rose to 15.16 per cent from 15.02 per cent at the end of the third quarter of the previous financial year.
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